Major Announcements

The Michigan Strategic Fund board on Tuesday voted to rescind $29.4 million in tax incentives for a $1.06 billion transformation of an Upper Peninsula paper mill after the facility's Swedish owner canceled the project earlier this year.

In a statement, Lenzing said its CEO Stephan Sielaff would not be renewing his contract with the company's management board, "by mutual agreement" with its supervisory board.

She is the first woman in the history of Saica as the head of the company.

Mats Nordlander, Head of Business Areas Containerboard and Pulp, has decided to leave SCA during 2024. Mats Nordlander will remain in his role as Head of the both Business Areas until December 31.

McKinley Paper Company plans to lay off 193 employees at its Port Angeles location on Aug. 25.

James K. Irving, a titan in Canadian business and industry, passed away at the age of 96, leaving behind a legacy deeply intertwined with the economic and social fabric of Canada. Born into the esteemed Irving family, James, along with his brothers, John (known as Jack) and Arthur, were the sons of K.C. Irving, whose vision and enterprise laid the groundwork for one of Canada's largest and most diversified conglomerates, J.D. Irving Ltd.

Metsä Group's pre-engineering project for a potential commercial-scale Muoto fibre product plant is progressing. After the pre-engineering phase, Metsä Group may consider making an investment decision. The partners selected for the pre-engineering project are Elomatic, SRV, Valmet Technologies and A-insinöörit Suunnittelu.

Protective packaging supplier Sealed Air (SEE) has announced the appointment of Patrick Kivits as its new chief executive officer, effective 1 July 2024. Kivits is now serving as president of corrugated packaging at paper and packaging company WestRock, overseeing all the company's business in Central America.

Starkraft, a business unit of Heinzel Pöls, part of the Heinzel Group, announces the successful launch of its PM6 at the Steyrermühl paper mill in Austria, marking a significant milestone in its journey towards enhanced productivity and global expansion. With this strategic investment, Starkraft elevates its production capacity to a total of 350,000 tons of kraft paper per year.

Sustana, an innovator of clean materials and the industry-leading producer of sustainable, recycled fiber-based products and services, announced the appointment of Nathan Jeppson as Chief Executive Officer, succeeding Fabian de Armas. Mr. Jeppson brings more than 20 years of leadership experience driving growth and innovation at premier manufacturing, industrials, and materials businesses, including global roles at Shell Chemical LP and Dow.

After 14 years as president and chief executive officer (CEO) of Tolko, and over 40 years with the company founded by his grandfather Harold, Brad Thorlakson has transitioned to the role of executive chair of the board. Further to Brad's transition, Pino Pucci has assumed the role of president and CEO.

Paper Excellence Canada announced that it has reached a settlement with the Province of Nova Scotia, Canada, that acknowledges plans to transform and reopen Northern Pulp Nova Scotia in Pictou will not proceed and provides for a review process agreed between the Northern Pulp group and the Province of Nova Scotia that is aimed to determine whether a new, modern mill in Nova Scotia is viable. The agreement also provides for the settlement of outstanding litigation and loans between the two parties and fully addresses the pensions of former mill employees.

International Paper ("IP") announced that Jamie A. Beggs and Scott A. Tozier have been elected to IP's Board of Directors, effective May 21, 2024. The company also announced that Ilene S. Gordon has retired from the Board citing personal and health reasons, effective May 21, 2024.

Billerud's Board of Directors has decided to not proceed with plans to convert its Escanaba mill to cartonboard production. Instead, the company will target to shift its product mix gradually towards packaging materials in North America with a moderate investment level.

Stora Enso will immediately begin the search for Seppo Parvi's successor.

Cascades Inc. announces the appointment of Mr. Hugues Simon as its new President and CEO. Currently President of the Wood Products business at Resolute Forest Products, Mr. Simon will assume his new role no later than July 1, 2024. The appointment follows an extensive succession planning and recruitment process, supported by an international firm, in anticipation of Mario Plourde's planned retirement.

Unifor strongly condemns RYAM's statement, describing the move as "totally devoid of any human consideration."

Sonoco Products Company, one of the largest sustainable global packaging companies, announced the upcoming retirement of tenured executive, Jeff Tomaszewski, President, Diversified Businesses, effective June 30, 2024.

The Board assumed directorship on March 20, 2024.

Beate Flamm joined the Board of the containerboard and corrugated sheetboard manufacturer Progroup. She is responsible for the areas of human performance management (personnel), communications and marketing, and corporate social responsibility.

Rayonier Advanced Materials Inc. (RYAM) is announcing that, effective July 2, 2024, it will suspend operations at its Temiscaming High Purity Cellulose (HPC) plant for an indefinite period.

Mativ Holdings, Inc. announced it has appointed Dr. Kimberly E. Ritrievi as Chair of the Board of Directors, succeeding Dr. John D. Rogers, who will continue to serve as a director of Mativ and will assume the role of Audit Committee Chair.

Henrik Ehrnrooth was elected as Chair, and Kim Wahl as Deputy Chair of the Board of Directors of UPM-Kymmene Corporation at the Board of Directors' constitutive meeting that took place following the Annual General Meeting.

Mike Wilson has been appointed Chief Commercial Officer, reporting directly to the Chief Executive Officer.

The Supervisory Board of Mayr-Melnhof Karton AG has unanimously reappointed Peter Oswald (61) as Chairman of the Management Board and CEO until May 31, 2029 following his first period of office, which expires on March 31, 2025. At the same time, the Management Board, which currently includes CFO Franz Hiesinger (58) alongside him, will be expanded to three members.